Step 4: Applying for a Mortgage Loan and Loan Processing
Once you have an accepted contract on a home, you will need to do a full loan application with your lender as quickly as possible.After the application has been made, the lender will start processing your loan. Depending on the lender and the loan, it should be 3 to 5 weeks until you have a loan approval. During that time, the lender may need additional information from you. If this happens, get the information to the lender quickly. Any delay will slow down your loan approval....and the closing on your new home.
Go on to Step 5 of Buying a Home |
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